SV Convenience Current A/c

Gives your Business, the Extra Power to Transact Daily

Corporate Banking > Current Accounts > SV Convenience Current Ac

SV Convenience Current A/c is an over draft linked current account.

Purpose: Business

Limit: Rs.1 Lac

Features:

  • Scheme is applicable to existing as well as new customers
  • Free Email statement facility.
  • Free SMS alerts for ATM card based transactions.

Rate of interest:

As stipulated by the bank from time to time.

Against effect limit:

Upto Rs. 5 Lac.

Terms & Conditions:

  • 2 Sureties of good means OR
  • 1 Surety and in lieu of other surety.
    • Own deposit equivalent to 50% of sanctional limit OR
    • Govt securities(Face Value) equivalent to 50% of sanctional limit OR
    • Surrender value of LIC Policy equivalent to 50% of sanctioned limit.
  • Compliance of KYC formalities as per RBI guidelines.
  • Firm/Concern to have minimum 2 yrs existence in the market with profits in Business and should be tax payers.
  • AQB of Rs.5000/-
  • Membership Shares: 25
  • Account to be approved after CIBIL search report obtained by SVC.
  • Applicants should have business place on ownership/rental basis.
  • PAMAC verification report of the applicant to be obtained.